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There were 684,000 initial claims for unemployment benefits in the US during the week ending March 20, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 781,000 (revised from 770,000) and came in much better than the market expectation …
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March, 2021
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25 March 2021 4:47 pm
EUR/USD Drops Below 1.1800 For The First Time Since November
The EUR/USD pair extended its daily slide and touched its lowest level since mid-November at 1.1797. to be updated …
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25 March 2021 4:27 pm
Currencies Overview: US Dollar Remains Near a 4-Month high Against The Euro With The Prospects for Recovery Mixed
The dollar rose as European markets opened Thursday (March 25th) after reaching a four-month high against the euro during the Asian session, with market participants focusing on the divergent recovery prospects in the United States and Europe and a dwindling risk appetite. Global stock markets fell to their lowest levels …
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25 March 2021 3:01 pm
SNB Leaves Policy Rate Unchanged
The Swiss National Bank (SNB) board members announced a no change to their monetary policy settings after it concluded the December quarter monetary policy assessment on Thursday. The SNB kept the key sight deposit rate steady at -0.75% while maintaining the 3-Month Libor Target Range steady between -1.25% to -0.25%, …
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25 March 2021 3:00 pm
The European Union Announces a Plan For Stricter Controls on Exports of The Coronavirus vaccine
The European Commission introduced new controls on Wednesday, March 24, to restrict exports of coronavirus vaccines from the 27-member bloc. Officials worry that drug companies will fail to meet delivery targets in the coming months. The Commission, the executive arm of the European Union, wants to ensure that member states …
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25 March 2021 1:34 pm
German Consumer Sentiment Continues to Improve
A survey showed that German consumer sentiment improved for the second month in a row as April approaches, supported by easing lockdown measures at the start of March, but a recent decision to extend restrictions has caused uncertainty around expectations. The GFK Research Institute said its consumer sentiment index, based …
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25 March 2021 1:23 pm
Gold Rises on Virus Fears in Europe And Rise of in USD Curbed The Gains
Gold prices rose Thursday, March 25th, as an increase in Covid-19 infections in Europe fueled fears about the pace of the economy’s recovery, but the rise of the dollar curbed the gains of the yellow metal. Spot gold increased 0.1% to $1736.51 an ounce and US gold futures rose 0.2% …
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25 March 2021 1:20 pm
Oil Declining as Demand Concerns Outweigh The Disruption of Suez Canal
Oil prices have fallen by more than 2% as the new general isolation measures aimed at combating the Coronavirus have revived concerns about the demand for oil products, even as boats face difficulties to float a stranded container ship that blocks the route of crude oil tankers in the Suez …
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25 March 2021 12:41 pm
Japan Stocks Closing Higher on a Jump in The Cycle-Related Sectors
Japanese stocks closed higher on Thursday, March 25th, as investors bought shares linked to the economic cycle that had fallen in the past, but the gains were curbed by technology stocks that traced the Nasdaq downward trail. The Nikkei index closed up 1.14% to 28,729.88 points, ending a four-day losing …
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25 March 2021 5:49 am
UK and EU Working on Vaccine Cooperation as New Variant Emerges in India
The United Kingdom (UK) and the European Union (EU) released a joint statement, expressing aim for cooperation and creating a win-win situation by expanding vaccine supply for all citizens. “We are all facing the same pandemic and the third wave makes cooperation between the EU and UK even more important. …
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25 March 2021 2:09 am
Oil Surges 6% amid Concerns about Supply Flows
Oil prices surged and closed higher on Wednesday, a day following entering into the correction territory, after an incident in Egypt’s Suez Canal led to concerns about the flow of global crude supplies. Oil stockpiles in the United States rose last week by 1.9 million, the U.S. Energy Information Administration …
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25 March 2021 12:35 am
Fed’s Williams Expects Strong Economic Recovery
President of the Federal Reserve Bank of New York, John Williams, said on Wednesday that the pace of economic recovery would determine when the Fed could begin raising interest rates. Wide distribution of vaccines, containing the virus, and strong economic growth could lead the U.S. Federal Reserve to pull back …
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25 March 2021 12:27 am
Gold Finishes Higher amid Coronavirus Fears
Gold prices returned to gains on Wednesday, following two consecutive daily declines, amid increased demand for safe-havens, amid concerns about a third wave of the Coronavirus pandemic and renewed lockdowns in Europe. The rise of the yellow metal futures came despite the rise of the U.S. Dollar (USD) to its …
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